When considering what a business of the future looks like, I had to wonder what might happen to traditional ways of marketing, branding and advertising. Some of it’s obvious, but some of it not so much. As a business owner, would you know where to look to leverage Ad Networks online? Internet Marketers have had the inside track on them, but that’s another change taking place. Ad Networks are becoming more and more mainstream, can you name a few?
When thinking about these networks, you can’t help wonder the impact they have, or will have, on traditional modes like Radio, Television, and Newspaper. Will it even reach the Direct Mail way of acquiring customers. The short answer is, yes. I’m not suggesting traditional methods will disappear entirely, but the revenue generated will make a shift to the Internet.
One problem with preventing Radio, TV & Print from disappearing entirely is a thing called NET Neutrality, but that’s another problem for another day, I’m merely mentioning it because it will at some point protect media from extinction. Traditional modes will and are moving to digital subscription models to prevent the declining revenues, as a matter of survival. On October 18, 2012, editor Tina Brown announced that Newsweek would cease print publication with the December 31, 2012 issue and transition to an all-digital format, to be called Newsweek Global. These kinds of moves are not new, but they are becoming more and more common place.
If and when this happens on a much bigger scale, what does that mean for advertising? It means, Ad agencies will have to learn a new way of marketing traditional businesses. If 60% of all commerce is moving online, that should tell you one thing…that’s where the people are and you better find a means to connect with them. Why? Because they aren’t watching TV, reading Newspapers, and listening to the Radio the way they used to. They are doing these things online, over 2.4 billion of them as of this writing, and another 3 billion coming!
Marketing, Advertising online do things different, ad networks monitor similar metrics, but they are digital now. Sure there are free ways of advertising, ad networks are digital forms of a traditional method of generating revenue online. Media buys online are not that different than offline, but they are different. How? You don’t need an ad agency to handle it for you for one, it’s actually a simple process. As business owner you can do it yourself, there’s a small learning curve, you will need to learn some of the lingo, maneuver a mouse, and fill in some blanks. I’m over simplifying of course, but you can buy media online yourself.
Keep in mind, these ad networks are setup for you to advertise, or publish, they sound like the same thing, but they are two different trains of thought on the Internet.
To help you get educated on ad networks, I’m going to list a few here for you to investigate, there are hundreds of them online so this is just sampling. Most of these are traffic generators, and we all need traffic, PPC is a digital way of getting access that you couldn’t get out of a traditional ad agency.
1.) ZEDO – www.zedo.com
ZEDO Ad Network is a traffic source for Advertisers and Affiliates who want to reach specific audience segments at the top of the impression chain.
2.) AdMarketplace – www.admarketplace.com
The adMarketplace Pay Per Click advertising platform delivers Search Engine performance across large content networks.
3.) Chitika – www.chitika.com
700 Million monthly search impressions, they have been around for some time.
4.) Adoori – www.adoori.com
Adoori’s network covers more than 250 countries, a massive reach with reasonable rates.
If you haven’t investigated online ad networks, now is the time to start, eventually you will end up using one for your business. Why? Probably because Radio, TV & Newspapers are failing you and your customer base has gone online looking for you, are you there?
This subject matter runs long and deep, and I’m merely poking a stick at it, I couldn’t possibly cover every aspect of it. But if current trends continue, online ad networks will over take traditional modes of advertising. It’s conceivable that one day, they will replace them entirely, but probably not in my life-time : )
This has been on my mind for some time now, and I know I’m not the first blogger to share his or her thoughts on this medium. Having spent 15 years in Media via Radio & Television mostly, I’ve considered Newspaper a distant cousin rather than the opposition in my years of selling advertising. The Media mix for marketing has always been these big three, Radio, Television & Newspaper, but something happened along the way and they seem to have missed it.
If you’ve noticed, the paper has been getting smaller, or shorter. The paper is getting fatter with inserts and more grocery coupons than one person can count. The content is smothered by ads, there are more ads in the paper than actual content for us to consume. What used to take two cups of coffee to read, takes less than minute. There is always the big headline trying to get your attention, it is almost always a headline like – Another Hit-And-Run! After all, blood and guts is what sells papers right?
So what’s happening to local Newspapers? It’s as if they are in a different world, a world of their own, and we’re not invited to participate in that world. We don’t have a say in what goes into the paper, in fact, we have virtually no hope of being heard by our local Newspapers. I just don’t understand that way of thinking. The old saying comes to mind, “don’t bite the hand that feeds you”, and I know business owners are tired of being bitten.
Radio used to be theatre of the mind, a real connecting point for communities, a huge service during the war, they used to get involved with communities without charging you to be in your community. Radio reached more people than any other medium, it was the 1st medium on the scene really, and it almost didn’t see the light of day. Why? It was free! The music industry alone tried to stop it, but then they figured out how to monetize Radio, there was an acceptable business model. That business model was the 1st real Open & Free Business Model.
Television captivated us by the sheer magic of how they were able to make it happen, TV used to be live not pre-recorded, those were golden times for TV. They too figured out the Open & Free Business Model, just as Radio did, Newspaper’s like the other two lost their first love, being truly connected and got involved in their communities. They provided a service, and for the most part it was free until money became the primary focus. Money is and always will be the 1st love of almost every business on the planet, that’s why so many businesses fail, they focus on the wrong things because of money, and most still do today. But that’s changing.
I will give Newspapers some credit, they are adopting the Internet, they have to, that’s where the people are. Just because papers are moving to the Internet, doesn’t mean they will survive, it merely means they are making a shift to a digital format. One of our local papers has started using Twitter, they have 13 followers as of this writing, they have a ways to go to get attention of the Twitter crowd. In fairness, there is more than one local paper, one with 1006 followers, the rest with less 1,000 followers. The problem isn’t following & circulation, the problem is….the way they think, the paradigm shift is too difficult for many, they look at the problem with old industrial age thinking, and then try to solve this shift problem internally. No, they don’t need to hire a Social Media Guru, they need someone to come in with a fresh pair of eyes, someone who sees the future of business and what it’s really doing. Business, not the Newspaper Business.
If 60% of commerce is going to be done online in the next 2 -3 years, why are newspapers so slow to adopt this movement? They should have begun the move, from denial to foresight, but sadly they are resisting, eventually they will subcumb to this global movement. The times are a changing baby!
The control they are trying to hang onto is a greased pig. Consider the life span of one simple Newspaper Ad, about a day & a half. Radio would have you run campaigns that require multiple ads in an hour or a day for consecutive days. Television does the same thing, you must run 10 ads a day to reach as many consumers in a day. Ka-Ching! If it takes 30 days to develop a habit, imagine how many days it takes to keep a brand top of mind, the numbers get staggering.
The future of the big three has been at risk for some time now. Individuals are now the competitor, so pay attention. I challenge Newspapers to make one change, this one simple change: listen to what your readers want, let them decide, don’t get in the way and question it, just do it. Just once don’t let money think for you, Don’t tell readers how wrong they are, don’t treat us like we don’t have a clue what we are doing, just do it! You’re already loosing money and more importantly, readers, so why not try it, trust the people formerly known as your readers (consumers). If you don’t, they’ll find local news a different way, like here: The Fraser Valley Daily
There is so much more to say on this topic, would love to hear your thoughts. Someday we will see the end of the Newspaper Editor, why, because he/she will be redundant.
What do you think, do you think your local Newspaper is failing you & your community?
Today the Internet Wins, our family has decided to cut Cable and get our TV online!!!!!! Yep, that’s $65.40 (CDN) that now goes to something else in our budget, maybe an evening out for dessert and a movie, a date night for sure.
The decision was actually very easy, we had a family meeting with our two boys (19 & 22), they looked at us somewhat bewildered, they almost laughed out loud at us when we asked them if they cared whether we had cable TV or not. Sometimes you get nervous bringing up the topic of dropping something you thought everyone wanted. Our youngest son said, we don’t watch TV, we get what we want online through our Media Center Computers.
That was it! No discussion, no fussing, no justifying why we should have it. So, we cut cable TV from our household and we are now using the Internet for yet one more service. I won’t cover all the services available online, I’ll let you do your own research. The truth is, this is going to happen more and more often over the next couple years. The trends show that 30% of all commerce will be done online in the next 2 – 3 years, including Internet TV.
Just this morning there was an announcement that we will be able to make deposits to bank accounts through a company called Banksimple.net via mobile capabilities. Alex Payne left Twitter to co-found Simplebank, this has huge ramifications to commerce online, I am really interested in this movement and will keep a close eye on this company.
Have you considered cutting Cable TV or any other service you feel you can get on the Internet, we don’t rent movies from the local Video store due to free movies online. It’s a matter of time before Cable TV and or any other service like it has to make serious radical changes to their model of control. Control is dead!
Our household is cable free, now I need to find a new toy : )
I haven’t had my morning coffee yet so I’m still a bit punchie. Last night while relaxing with the Mrs., I saw a commercial on the Idiot Box that got me to wondering, do ad agencies really think we’re this stupid? They must, just look at some of the commercials being aired, and it’s not any one product or market, there is at least one or two ads that run in all product lines that make you scratch your head and wonder, who the hell they are talking to.
I won’t name the company but, you’ll figure it out quickly I’m sure. A girl is standing in the middle of the road, there are hundreds of frogs (toads) all over the road, the girl picks one up and kisses it on the beek and VOILA! The frog (toad) becomes a handsome dude on a horse, he jumps off the horse, looks at the girl, looks at the car, he runs to the car and drives off!
Now, does that ad make you want to run out buy that car? Was the commercial maybe even man bashing a little? I mean really, am I supossed to be so stupid that kind of ad is going to motivate me to buy a car? At the risk of sounding like a sexist, obviously the ad was designed for women, it smacks of all kinds under current issues in my head. This is one of many reasons why I don’t watch TV much, bad programming first and then crappy commercials that companies spend thousands of dollars if not millions, to insult people.
It disgusts me that companies think these ads are clever, hell even the financial world (Wall Street) obviously thinks the general public are the dumbest creatures on the planet! But that’s another story. These ads, most of them, don’t speak to me nor do they reflect that they are trying to solve a problem of some kind, they are trying to be Witty, Smart, Clever and maybe even subliminal. But…..the hell!
Is it me or am I that stupid? There, I’ve opened up the barn door for you to leave a rude comment or two, am I alone….hello?
I worked in Radio & Television for 15 years, I know they think your stupid, I once did too, but times have changed and you & I have the power back in our hands once again. We are the people formerly known as consumers, so ad agencies, creative departments, stop talking to us (me) like I’m stupid!
Do you think Ad Agencies think you are stupid?
Remember when you were a kid, you ran out the door and then heard your Mother calling, where are you going? That’s what many local businesses are doing with their customers today. If you are the one calling, it’s most likely too late because your customers are off looking for what you didn’t have to keep them around the supper table. In this picture you are behind them calling out not in front of them engaging and sharing, drawing them in building a relationship, a relationship that builds loyalty and increased return on Investments. For many this sounds like way too much work and don’t have time for this new way of doing business. This new way is happening and you will have no choice, this new way is called Social Media, resistance is futile, you will be assimulated.
Businesses today will have to figure out how to integrate multiple Social Media Networks into there web presence, their marketing strategy and above all incorporate it into the business plan as a another way of generating a ROI. Keep in mind that Social Media is not the Messiah, it is one of many tools to use to build a stronger more viable business. Reaching out to millions of consumers who thrive online around the clock requires an investment, a different type of thinking and some courage too. Many business are still wedded to a traditional marketing approach, based on TV, radio and print ads, Social Media seems harder to understand.
The biggest change taking place, or the shift as I see it, there is no gap between the CEO and customer. They now talk directly to each other, there’s no need for the middleman. Support costs are dropping, some businesses are using these Social Mediums to reach customers and save large dollars in doing so. Take Comcast as an example, for more than a year Comcast has pioneered the use of Twitter to speak directly to it’s customers. It’s Twitter page @comcastcares has 28,000+ followers. Software maker Sage North America, to cite another example, routinely receives instant feedback from hundreds of people within an hour on specific products and services. Another example is in sales, those who visit MyFICO’s community website are spending 41% more than other customers!
Businesses don’t think in terms of inbound marketing, they are very good at outbound marketing. Outbound Marketing is only half the equation in today’s new market place. A great resource to learn about Inbound Marketing is Chris Brogan & Justin Levy’s Inbound Marketing Summit.
There are multiple shifts taking place but increasingly, consumers don’t search for products and services anymore. Rather, services come to their attention via social media networks like Twitter. So if you are wondering where your customers are going, look to the Social Networks a plenty, don’t believe me, here is another example of a National pizza chain, Papa John’s added 148,000 fans on Nov. 17, 2008 through a guerrilla marketing campaign on Facebook. It offered a free medium pizza to anyone who signed up to be its fan on Facebook. The promotion gained it thousands of customers and drove its Web traffic up 253%. It now has more than 300,000 fans and hopes to top 1 million by the end of this year.
I could list many, many more examples of how businesses are winning and using Social Media to enhance existing marketing efforts. When was the last time traditional marketing campaigns garnered such ROI’s as some of these businesses are experiencing in today’s new social environments? Your customers are in these social networks and you had better be there to.
Now you know where your customers are going, the question is….are you going ahead of them?